Let's see if I got it right!
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- #43
- Dec 22, 2009 9:09am Dec 22, 2009 9:09am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
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The royal pair is moving steadily upwards; influenced by the positive effect obtained from our previous explained ideal [BAT] pattern. Presently, we think that slight descending actions are needed to relieve the momentum indicators, followed by resuming the major upside direction over intraday basis; targeting 0.9160 zones.
The trading range is among the key support at 0.8760 and key resistance now at 0.9205.
The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.
Support0.90000.89650.89300.89050.8885Resistance0.90300.90700.91150.91450.9175RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8980 targeting 0.9095 and stop loss below 0.8885 might be appropriate.
- #46
- Dec 29, 2009 2:00am Dec 29, 2009 2:00am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
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- #50
- Dec 29, 2009 12:22pm Dec 29, 2009 12:22pm
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Its went upto .9040..
To be honest, I'm not sure, so I'm on the sidelines until we have re-tested .9000. I may set some longs there.
I am now convinced, though, that we are looking at 1.000 - could be next year. That is 1,000 pips. No rush...
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- #53
- Dec 30, 2009 12:09pm Dec 30, 2009 12:09pm
- Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts
What Happened to EUR/GBP? Cant find the root cause.
Is it Year End Sale??
Within Hours it went to Stone Age....
- #56
- Jan 5, 2010 3:31am Jan 5, 2010 3:31am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
To be honest, I'm not sure, so I'm on the sidelines
I see a pair that is beginning to wind up tightly and so there should be a good trade to be had when this breaks out.
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- #57
- Jan 7, 2010 2:08am Jan 7, 2010 2:08am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Here's a chart with my current analysis:
The solid grey horizontal box signifies resistance at .90xx I will be looking at a solid close above that box on the daily before going long.
I have marked the 26th November with a vertical line as an example. This is not a solid close. It went to .9128 and then closed below .9100. Not a good place to go long.
The blue triangle represents compression and there is a good probability of a dynamic move with good momentum following a solid daily close outside this area.
The wavy blue line is the 200ma. Some people attribute support and resistance to this moving average but I only add it for interest. It is my view that where it appears to act as support or resistance it is merely reflecting consolidation. Consolidation: If the market is uncertain about the value of a currency pair then buyers and sellers are in a state of equilibrium. The price naturally comes to rest near to one of the bigger moving averages. The average price of the last 200 days.
Why am I biased long? Well here in the UK we have a general election due in a few months. The ruling Labour party is in disarray and the Conservative party do not seem a viable alternative. In order to retain popularity the Labour government is deferring harsh cuts in government spending until after the election. Neither party wants to tell the populace what nasty things are going to be necessary.
The response of the financial markets, who hate uncertainty, will be to downgrade the UK and GBP.
The solid grey horizontal box signifies resistance at .90xx I will be looking at a solid close above that box on the daily before going long.
I have marked the 26th November with a vertical line as an example. This is not a solid close. It went to .9128 and then closed below .9100. Not a good place to go long.
The blue triangle represents compression and there is a good probability of a dynamic move with good momentum following a solid daily close outside this area.
The wavy blue line is the 200ma. Some people attribute support and resistance to this moving average but I only add it for interest. It is my view that where it appears to act as support or resistance it is merely reflecting consolidation. Consolidation: If the market is uncertain about the value of a currency pair then buyers and sellers are in a state of equilibrium. The price naturally comes to rest near to one of the bigger moving averages. The average price of the last 200 days.
Why am I biased long? Well here in the UK we have a general election due in a few months. The ruling Labour party is in disarray and the Conservative party do not seem a viable alternative. In order to retain popularity the Labour government is deferring harsh cuts in government spending until after the election. Neither party wants to tell the populace what nasty things are going to be necessary.
The response of the financial markets, who hate uncertainty, will be to downgrade the UK and GBP.
Gone to a better place
- #60
- Jan 7, 2010 3:14am Jan 7, 2010 3:14am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Hello, i know that i am a little bit "off-topic", but i have a question about FF calendar, there are lot of forecast, like 1.6%, 200B, 449K, 52.2, what is different among this marks like %, B, K, or without any marks, what does it mean? thank
(Anyway, sorry for my english)
regards
Gone to a better place